5% of collective FUA, or individual pots?
My firm wouldn't allow any of our IFAs to charge that much.

Are the advisers St James's Place? They're extortionately priced and not whole of market, plus vertically integrated. Lovely marketing though, which is why idiots use them.
(dozers, do fuck off ur a nob m8, Fri 14 Feb 2014, 7:51, 1 reply, 11 years ago)

As far as I can make out it's 5% of payments made (sorry, don't know the jargon)

(Captain Placid 24/7 ball gags, brownie mix and clown porn, Fri 14 Feb 2014, 7:58, Reply)

it's standard for that level of charge to be the initial rather than the ongoing.
And it would normally come out of the first year's contributions, after which the ongoing charge of 0.75% or so would kick in.

Is it a GPP?
(dozers, do fuck off ur a nob m8, Fri 14 Feb 2014, 8:01, Reply)

I'll look into it - I'm eligible to join it so I've got the paperwork to wade through - it's just the 5% that stuck in my craw.

(Captain Placid 24/7 ball gags, brownie mix and clown porn, Fri 14 Feb 2014, 8:04, Reply)

it won't be the ongoing charge
And advice is always to join an employer scheme, assuming there's an employer contribution. You don't get tax relief on those, but it's free money.
(dozers, do fuck off ur a nob m8, Fri 14 Feb 2014, 8:06, Reply)

Is it even worth joining at your age?

( Naked Ape call me Caitlyn, Fri 14 Feb 2014, 8:06, Reply)

Always is
Anyhow, the way the retirement age is going up it'll be 25 years before I get to retire.
(Captain Placid 24/7 ball gags, brownie mix and clown porn, Fri 14 Feb 2014, 8:08, Reply)

plus, joining it usually comes with death in service

(dozers, do fuck off ur a nob m8, Fri 14 Feb 2014, 8:10, Reply)

That bit's pretty good - 3.5x your actual earnings averaged over the past year
... so that includes bonuses/commission.
(Captain Placid 24/7 ball gags, brownie mix and clown porn, Fri 14 Feb 2014, 8:19, Reply)